Marriage and Your Financial Compatibility The excitement and anxiety that comes with getting married often clouds rational thinking and sound judgment. While many think that tying the knot is simply a romantic undertaking, those who have been there know that it’s as much financial as it is quixotic. In fact, money plays a vital role both before and after the wedding and even more so during your marriage that it’s important to marry the person who you are financially compatible with. Unfortunately, finding the one who is financially fit for you is often quite difficult. Most of the time, we go out of our way to please the person we love by putting our best foot forward—and this means spending a ton of money on gifts and surprises. Some people don’t care if they are on the verge of maxing out their credit cards for as long as they are able to see the happiness mirrored on their loved one’s faces. However, this is not the best way to get to know each other on a more intimate level, especially where money matters are concerned. It is often the opposite. By spending more than what you can afford, or even by not calling your boyfriend’s or girlfriend’s attention to the fact that the extravagant displays and expensive presents are making you feel uncomfortable because it shows how conflicting your views are about money, you are both setting the stage for false assumptions and financial disagreements. Money problems are one of the issues that couples often fight about which lead to divorce that it’s vital early on in the relationship to find out if you and your would-be spouse are the right financial fit. Before we dig deeper into this issue, let’s first get certain things clear. First of all, even if you know that you are going to be marrying a millionaire, you still should be on the same wavelength when it comes to handling money. Second, even if you know that your partner is a whiz at all the budgeting and financial planning, you should still work as a team. He or she may be the one managing the money but you should have your say on how or where the funds go. So how do you figure out if you hold the same views about money or if you still need to work things out? Here are some very crucial questions to ask before you both tie the knot. Now remember, if you are the one opening up this conversation with your partner, there’s a chance that he or she might take it the wrong way.
These kinds of topics require the utmost tact on your part. You might need to preamble it by explaining how important financial compatibility is to the new life that you are going to share as a married couple. But you must make it clear that these need to be answered so you have a starting point on how you want your finances handled. Other related info you might be interested in: • How Much Does It Take to Raise a Child? • The Challenge of Living Below Your Means—and the Rewards of Doing So • The Financial Benefits of Taking Care of your Things
Published on Oct 22, 2013
Published on Oct 22, 2013
The excitement and anxiety that comes with getting married often clouds rational thinking and sound judgment. While many think that tying th...